FIL Ltd Increases Holdings in Intercontinental Exchange Inc. (ICE)
FIL Ltd raised its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 2.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,005,482 shares of the financial services provider’s stock after buying an additional 70,436 shares during the period. FIL Ltd owned about 0.51% of Intercontinental Exchange worth $198,122,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. MML Investors Services LLC raised its stake in Intercontinental Exchange by 39.8% during the 2nd quarter. MML Investors Services LLC now owns 12,234 shares of the financial services provider’s stock valued at $806,000 after buying an additional 3,483 shares during the last quarter. ETRADE Capital Management LLC increased its stake in shares of Intercontinental Exchange by 8.1% in the 2nd quarter. ETRADE Capital Management LLC now owns 30,924 shares of the financial services provider’s stock worth $2,039,000 after purchasing an additional 2,323 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Intercontinental Exchange by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 40,162,938 shares of the financial services provider’s stock worth $2,647,541,000 after purchasing an additional 844,270 shares in the last quarter. Northern Trust Corp increased its stake in shares of Intercontinental Exchange by 19.9% in the 2nd quarter. Northern Trust Corp now owns 11,355,251 shares of the financial services provider’s stock worth $748,538,000 after purchasing an additional 1,883,432 shares in the last quarter. Finally, Marietta Wealth Management LLC increased its stake in shares of Intercontinental Exchange by 3.2% in the 2nd quarter. Marietta Wealth Management LLC now owns 41,145 shares of the financial services provider’s stock worth $2,712,000 after purchasing an additional 1,293 shares in the last quarter. Institutional investors and hedge funds own 89.74% of the company’s stock.
Several research firms have recently commented on ICE. Zacks Investment Research upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a research note on Thursday, July 13th. Royal Bank Of Canada upgraded Intercontinental Exchange from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $65.00 to $70.00 in a research note on Thursday, July 13th. Jefferies Group LLC restated a “buy” rating and issued a $73.00 price objective (up from $70.00) on shares of Intercontinental Exchange in a research note on Monday, July 17th. BidaskClub lowered Intercontinental Exchange from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Citigroup Inc. began coverage on Intercontinental Exchange in a research note on Wednesday, July 12th. They issued a “neutral” rating and a $67.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $68.81.
In related news, CEO Jeffrey C. Sprecher sold 80,420 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $65.24, for a total transaction of $5,246,600.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Charles A. Vice sold 12,500 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $66.93, for a total transaction of $836,625.00. Following the transaction, the insider now owns 382,471 shares of the company’s stock, valued at $25,598,784.03. The disclosure for this sale can be found here. Insiders have sold 137,420 shares of company stock valued at $8,987,176 over the last 90 days. 1.50% of the stock is currently owned by insiders.
Shares of Intercontinental Exchange Inc. (NYSE:ICE) traded up 0.31% during midday trading on Thursday, reaching $66.88. The company’s stock had a trading volume of 471,287 shares. The stock has a 50-day moving average of $65.38 and a 200 day moving average of $62.86. The firm has a market capitalization of $7.69 billion, a P/E ratio of 24.78 and a beta of 0.72. Intercontinental Exchange Inc. has a 12-month low of $52.27 and a 12-month high of $67.48.
Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, August 3rd. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.75. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.17 billion. Intercontinental Exchange had a net margin of 27.56% and a return on equity of 10.80%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.69 earnings per share. Equities research analysts predict that Intercontinental Exchange Inc. will post $2.94 EPS for the current fiscal year.
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Intercontinental Exchange Company Profile
Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.
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